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Woolies declared ‘Australia’s most valuable brand’

Woolworths has been awarded the accolade of Australia’s most valuable brand, according to Brand Finance’s valuation of the world’s top 500 consumer names.

Woolworths beat out previous leader the National Australia Bank, to rank 143rd best global brand as of December 2008.

Brand Finance valued the Woolies name at $US4.6 billion, a gain of 5 per cent.

Other big brands on the list included Telstra’s which took out the 188th spot, whilst Qantas’s brand value nosedived 28 percent.

Brand Finance’s local managing director Tim Heberden said the reshuffling reflected the nature of the struggling banking sector, along with the sound prospects of retail stocks.

On Friday, Woolworths produced a stronger than expected 6.5 percent rise in third quarter sales.

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